Japan's Don Quijote store operator to buy California supermarket chain

Pan Pacific International Holdings Corp., the operator of the Don Quijote discount store chain, said Wednesday it will acquire in April all shares of GRCY Holdings Inc., which runs Gelson's upscale supermarket stores in southern California.Through the planned acquisition of the U.S. supermarket operator for an undisclosed amount, the Japanese retailer aims to strengthen its overseas business and boost exports of Japanese agricultural and fishery products.California-based GRCY currently operates 27 stores and its sales in 2020 are estimated to have reached $872.3 million. The Japanese retail…READ FULL ARTICLE